84 replies to this topic

[johngeorge]

McEwen mining under the gun to get shares back above $1 or will be delisted from the NYSE. McEwen mining announces share buy back with shares to be cancelled.

[dharma]

its the problem w/explorers, you have to watch 1 how much cash they have in hand 2 their burn rate how fast they burn through cash in hand . otherwise you have a miner that has to come to the market for cash, thus depreciating their value and stock price. its a tough game, but when the bull gets going the better companies will be 10+baggers until then one can get caught holding the bag. many of these will disappear consolidating just under the 1150 resistance. we need to take out 1170 to have higher highs. something the market has been unable to do lots of gold bullish events close @ hand, but so far the market is under wraps. i want to see new highs before the end of october, otherwise i will not sit w/what i have the bears still are in control for the most part. as tria points out in the piece on glencore, but for how much longer? and waiting for the answer can make you a poor man/woman dharma

[johngeorge]

Bradley turn date tomorrow 10/9.

http://kirklindstrom...h-Days.html#Top

Many traders and financial astrologers misunderstand the Bradley siderograph. The Bradley siderograph does not reliably predict the direction but only turning points in the financial markets (stocks, bonds, bonds, commodities) within a time window of +/- 4 calendar days. Some incorrectly report "Bradley inversions" which cannot occur because the Bradley Siderograph does not reliably indicate trend directions. In addition, it is not a timing tool for short-term trends but rather for intermediate-term to longer-term trends because the turning window is +/- four calendar days.

[dharma]

@ resistance. above here and the 1170 comes into play. lots of drivers to this market including deflation. i am positioned and waiting for higher prices. still not clear the bear phase is over. but , the drivers for the bull becoming more apparent. miners firmly leading and volume has been stellar dharma

[dougie]

,Huston, we have liftoff

[dharma]

,Huston, we have liftoff

silver took out its august highs
gdx is right there , but not yet
gld has not taken out its august highs
similar picture to august
i think i need to see more confirmations before
i declare lift out.
so far so good, but we need to prove more
and frankly i want to see gold above 1200 before i feel blue skies ahead
patience
dharma

[dougie]

Important test coming up here LTimportant test monthly miners

[dharma]

smack into resistance this am, the miners didnt gain much this am , before the correction took hold now we will correct. breaking out of the triangle projects to 1250 so we see where it goes once this leg finishes , we should have a better idea of has the market turned or not i do think this leg has more to go on the upside. the key to the market is the demand side of the equation w/china publishing its monthly buys it should be encouraging to other eastern cbs. the west is debt soaked for the most part, i dont look for demand coming from there dharma

[dharma]

gdx reversal day, right on time gld right into resistance. the question is 1 how far do we correct 2 how long does it last gld took out declining resistance and pressed up against its 200dma still looks constructive to me dharma

[dougie]

will be interesting to see. One count has this all as corrective up and now we go down into the FINAL lows. I think not. I see a short sharp corretion as a buy into Nov. But who knows